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Daimler to Make Mercedes, Truck Units Legally Independent
Daimler AG intends to restructure into a holding company with three separate legal units: Mercedes-Benz cars and vans, Daimler trucks and buses, and financial services.
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Daimler AG intends to restructure into a holding company with three separate legal units: Mercedes-Benz cars and vans, Daimler trucks and buses, and financial services.
The company says the proposed reorganization would give each unit greater “entrepreneurial responsibility” to cope with rapid changes in the personal and commercial transport sectors. The financial services business already is legally independent.
Daimler has budgeted about €100 million ($119 million) to pursue the first steps in the proposed restructuring.
The carmaker says there is no plan to divest any existing divisions. The company also notes that neither the supervisory board nor management board has made any final decision to move forward. Daimler adds that shareholders aren’t likely to be asked to approve any restructuring plan until at least 2019.
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